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9 Cards in this Set
- Front
- Back
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What types of life insurance are normally used for key employee indemnification? |
Term,whole, and universal life insurance |
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Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period |
Decreasing term insurance |
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The statement which best describes the relationship between the premium of a whole life policy and the premium payment period is |
The shorter the payment period, the higher the premium |
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The premium for a modified whole policy is |
Lower than the typical whole life policy during the first few years and then higher than typical for the remainder |
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A single premium cash value policy can be described as |
A policy that is paid up after only one payment |
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Joe has a life insurance policy that has a face amount of $300,000. After a number of years, the police's cash value accumulate of $50,000 and the face amount become $350,000. What kind of policy is this? |
Universal Life Policy |
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A life insurance policy written on one contact for two people in which it is payable upon the first death is called |
Survivorship |
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A business will typically use which type life insurance to cover thier employees |
Group policy |
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Which of the following policies does not build cash value |
Term |
